Celtic’s latest financial results should be lauded by all.
Still in the grip of a global pandemic, the figures by the Parkhead club massively eclipse those of our rivals and show that the business model that Celtic have of buying low and selling high is still working after over twenty years.
And whilst the results were kind of lauded by finance expert Dr Dan Plumley, he said the the figures look ‘skewed’ by transfer sales.
Speaking to Football Insider, the professor at the Sheffield Hallam University said, “Most of it is transfer sales,”
“A degree of caution is needed for the headline profit figure. They are only for six months and most revenue is generated in that six months.
“You have got season ticket sales, summer transfers, UEFA money.
“So it’s no surprise to see that they expect to run at a loss for the next six months.
“It is an excellent figure, however.
“But you do have to look at it in the context of those player sales, for sure.”
Context of player sales? What context is he talking about?
This is a model that has served Celtic well over the last twenty years. A model that other clubs can only aspire to.
I don’t get that kind of thinking?
If B&Q made record profits of £10m but half of that was due to hot tub sales, would the MD be warned that it was only because of the sales of the hot tubs that they hit those heights?
Of course not. It’s a silly point to make to try and downplay financial results that are on a par, if not better, than those pre pandemic.
CELTIC tell the auditors the truth “they” don’t… over £23 million in the red how much is still owed to other clubs for the players already at the club…..Kent for example how much are Liverpool still owed…has his and any other structured transfers included in the £23 million … When they sold Patterson for £16 million or was it billion. How much was upfront and how much was structured. So the £23 million could rise even taking Patterson’s transfer in to account. I know most clubs structure transfers like this but the books are audited each year to show it. But NOT “they” . £23 million in the red and we are told by the board they will be in profit next year. And the SMSM did not and will not ask (HOW)
The majority of clubs in the English Premier league can only dream about a set of accounts similar to celtics most of the epl clubs are up to there armpits in debt
The figures are also “skewed” by staff wages – if you don’t include them then our profits would be much higher !
As usual trying to turn a positive into a negative – imbeciles !